Middle East solar skyscraper MoU

EnviroMission's solar updraft technology

EnviroMission's solar updraft technology

Australian solar power tower company EnviroMission has signed a breakthrough memorandum of understanding (MoU) with a Middle East developer to build “multiple” installations of its skyscraping technology.

The memorandum with the unnamed developer targets commercialisation of the solar updraft towers through the acquisition of exclusive regional development rights in the Middle East, with a $1.5m lead-off heads of agreement (HoA) to be inked by March.

EnviroMission will also receive a one-off fee, an annual technology fee for each solar tower power station, and equity and board representation on a special-purpose development company capitalised under the HoA.

“This partnership has the potential to redefine the common perception of renewable energy and the way it is delivered — it is the intent to provide base-load, predictable, non- intermittent Log in to read complete article.

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